| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Poor |
| Demographics | 49th | Good |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 815 S Athena St, Troup, TX, 75789, US |
| Region / Metro | Troup |
| Year of Construction | 1994 |
| Units | 37 |
| Transaction Date | 2016-07-21 |
| Transaction Price | $2,179,700 |
| Buyer | TRM SENIOR APARTMENTS LP |
| Seller | TROUP SENIORS APARTMENTS LP |
815 S Athena St, Troup TX — 37-Unit Value-Add Multifamily
Neighborhood occupancy is measured at the neighborhood level and trends below the metro median, but a sizable renter-occupied share supports tenant depth, according to WDSuite’s CRE market data. For investors, the thesis centers on steady workforce demand with selective upgrades to improve competitiveness.
This rural Tyler, TX metro neighborhood is competitive among Tyler neighborhoods on amenities (ranked 38 of 78), with limited retail and daily-needs options nearby. School ratings average about 3.3 out of 5 and sit in the top quartile nationally, which can support family renter appeal while not being the primary draw compared with urban submarkets.
The neighborhood’s average building vintage skews older (average year ~1940; rank 75 of 78), while the subject was built in 1994. For investors, that gap can be advantageous: the property should compete well against older stock, though systems are of an age where targeted capital projects and modernization may be prudent to sustain leasing velocity.
On occupancy, the neighborhood rate is below the metro median (rank 49 of 78; national percentile 17). However, renter-occupied share is above the metro median (29.7%; rank 22 of 78), indicating a meaningful renter concentration that can support multifamily demand and reduce leasing volatility when units are well-positioned.
Within a 3-mile radius, recent population and household growth have expanded the local tenant base, while forward-looking projections point to smaller average household sizes and a modest population contraction alongside continued household count gains. For operators, that combination suggests a stable-to-growing pool of households with potential demand for well-priced rentals, but careful attention to unit mix and pricing remains important.
Home values in this area are relatively accessible compared with major metros, which can introduce some competition from ownership. That said, a moderate rent-to-income profile and workforce incomes support renter reliance on multifamily housing, aiding retention when management focuses on value and service quality.
Neighborhood-level crime metrics were not available in the dataset for this area. Investors typically benchmark city and county trends over time and compare them to peer neighborhoods in the Tyler metro to evaluate relative safety and potential property management implications.
The area serves a regional workforce, with commuting access to foodservice distribution supporting renter demand. The employers listed below reflect nearby drivers relevant to multifamily leasing.
- Sysco — foodservice distribution (30.7 miles)
Built in 1994 with 37 units, the property competes against an older neighborhood base, offering an opportunity to capture renters seeking functional housing without Class A pricing. Neighborhood occupancy runs below the metro median, but renter concentration and workforce dynamics support a durable tenant base when units are maintained and priced effectively. Based on commercial real estate analysis from WDSuite, the surrounding 3-mile area has recently added households, while projections indicate smaller household sizes ahead—an operator consideration for unit mix and amenity programming.
The value-add path is targeted rather than expansive: refresh interiors and common areas, address age-related systems selectively, and emphasize reliable operations to stabilize occupancy and rents. Affordability levels suggest room for steady leasing, though more attainable ownership options in the area warrant disciplined pricing and retention-focused management.
- 1994 vintage competes well versus older neighborhood stock; plan selective system and interior updates
- Renter-occupied share above metro median supports demand depth and leasing stability
- Recent 3-mile household growth expands the tenant base; smaller projected household sizes inform unit mix strategy
- Workforce-oriented positioning with attainable rents can sustain occupancy when operations are consistent
- Risks: neighborhood occupancy below metro median; potential competition from homeownership requires disciplined pricing and retention